#Africa #Markets – Factors to watch on July 4

NAIROBI, July 4 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.
– – – – –
GLOBAL MARKETS
Asian shares rose on Tuesday, thanks to strength in Europe
and the United States as oil’s longest stretch of daily
price gains in over five years lifted energy shares, while
markets in Seoul were briefly shaken by a missile launched
by North Korea.

WORLD OIL PRICES
Oil prices retreated in early Asian trade on Tuesday,
halting a run of eight straight days of gains on signs that
a relentless rise in U.S. crude production is running out of
steam.

SOUTH AFRICA MARKETS
South Africa’s rand weakened on Monday, extending losses to
a third straight session after comments by central bankers
in developed economies suggested a shift towards policy
tightening.

NIGERIA MARKETS
Nigeria’s central bank said it will sell $100 million at a
special foreign currency auction on Monday, the latest in a
series of interventions that it said had yielded positive
results in the forex market.

NIGERIA TELECOMS
Etisalat Nigeria Chairman Hakeem Belo-Osagie has resigned
after talks to renegotiate a $1.2 billion loan collapsed and
prompted a major foreign shareholder to exit the telecoms
company, two company sources told Reuters.

KENYA MARKETS
The Kenyan shilling was forecast to ease further
against the dollar on Monday due to demand from oil
importers and manufacturers despite the central bank selling
dollars on Friday, traders said.

KENYA COFFEE
Emerging markets-focused private equity firm Abraaj Group
said on Monday it planned to fully acquire leading Kenyan
coffee chain Java House from its present owners for an
undisclosed amount.

TANZANIA MINING LAWS
Tanzania’s parliament passed two laws on Monday allowing the
government to force mining and energy companies to
renegotiate their contracts, despite pleas from the mining
association for more time.

ANGOLA FOREX RESERVES
Angola’s net foreign exchange reserves fell to $18.026
billion in May from $18.435 billion in April, data posted on
the central bank’s website showed on Monday.

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